NewsRemiges co-led the Series A round of finance for InFlectis BioScience in France

Remiges co-led the Series A round of finance for InFlectis BioScience in France

06/01/2016

Remiges co-led and closed the Series A financing for InFlectis BioScience a France-based biopharmaceutical company specializing in the discovery and development of drugs for the treatment of protein misfolding diseases. The 4.5 million EUR financing round was co-led with CM-CIC a France-based investment firm with participation from existing investors. The investors for the round have an option to invest an additional 1.5 million EUR under certain pre-agreed conditions.

The proceeds from the investment will be used to finance the development of the company's in-house programs including IFB-088 which is currently at the pre-clinical stage.

IFB-088 is a small molecular orally available therapeutic agent being developed for Charcot Marie Tooth Disease (CMT). In cells exposed to the endoplasmic reticulum (ER) stress, IFB-088 inhibits PPP1R15A the regulatory subunit of the stress­ induced eIF2α phosphatase PPP1R15A–PP1c, prolonged eIF2α phosphorylation and delayed translation recovery, thereby protecting cells from the cytotoxic ER stress. The initial targeted indications are Charcot Marie Tooth Disease with the potential to expand into other major neurodegenerative diseases.

The firm also has a platform technology including a series of small molecule compounds targeting the unfolded protein response (UPR) to treat misfolding protein disorders such as neurodegenerative and age-related diseases.

In conjunction with the Series A financing Taro Inaba from Remiges Ventures joined the board of directors (Strategic Committee) of the firm, and moving forward Remiges anticipates supporting the firm's value creation.